This is under the condition that the trading happens in a 'good housefather' way, otherwise any gains should be declared as 'diverse income' which is taxed at the lower rate (for Belgium) of 35%. It is up to the judge to interpret what kind of trading is good and what is bad, but if the frequency is such that it looks like a job, it is probably bad. Since Belgium is the world champion of high taxes, you shouldn't be too envious. BAsically anyting you do is taxed heavily, typically at rates of about 50%. E.g. The corporate tax rate is 33%, what's left can be declared as dividend, which is again taxed at 30% in privat income tax.
This no capital gains tax because there is already a tax of 0.3% to 1.3% on every transaction (buy or sell). Last year, a speculation tax of 33% was introduced on gains achieved on any stock sold within 6 months of purchase, as part of our goverment efforts to plug the hole in its budget. After 9 months they came to the conclusion that the amount of transactions had fallen so much that the total tax revenue of transactio tax+speculation tax was much less that before the introduction of the speculation tax. (Note that losses where not deductable, but gains were taxed, which I consider a very greedy point of view of our government). THe speculation tax was dropped in the beginning of the year.
Some parties in the current government coalition (the same ones that pushed the speculation tax) now want to introduce a capital gains tax on gains within the first 30 YEARS! of ownership.
